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Located on the northeast corner of the Sam’s Crossing and East College Avenue intersection, Sam’s Crossing development opportunity is a four parcel assemblage with 619 ft of frontage. The property is situated within the unincorporated DeKalb County in Decatur, Georgia 30030, and unlike the incorporated DeKalb County, it offers more economic/financial incentives to investors/developers. The area of the property is 3.18 acres, and the estimated value of the land rises to $6.5 millions.
Sam’s Crossing is located just between the City of Decatur and the City of Avondale Estates. The property sits just one block away from the Avondale Estates MARTA station in Decatur, Georgia. The MARTA line is the most common source of east-west travel for those commuters living in the Atlanta MSA without automobiles as well as those passengers looking to expedite their daily commute into the City of Atlanta with the Park and Ride alternative.

The current zoning of this assemblage is C-2 – General Commercial District. This particular zoning suggests as the highest and best use the development of a retail center. Being very interested in increasing its population, DeKalb County is likely to allow a zoning change for this development to PCD – Pedestrian Community District. This zoning allows for a mixed-use development. Sam’s Crossing will be well suited for a 275 units condominium complex ontop of 40,000 square feet of retail space.
Re-zoning presents an investor/developer with a unique opportunity to develop a mid-rise condo/retail project within an expansion area of the City of Atlanta. Local retailers include the highest producing Kroger in the Atlanta MSA located less than 1.5 mile away.

The most comparable sales in the Decatur Submarket have sold in a range of $31.00 to $ 55.00 per square foot for land and $185,000 to $265,000 per unit for condominium/mixed use developments. In the City of Atlanta land prices range from $64.00 to $73.00 per square foot and condominiums/mixed use developments range from $190,000 to $565,000.

Decatur, GA

According to the Atlanta Business Chronicle, Decatur will keep expending in the year to come. The Artisan, Alta Decatur, Decatur House, and 335 West Ponce de Leon are the newest planned mixed-use communities, accounting for over 400 new units that will become available on the market in 2006. Getting more people to live in downtown Decatur has been the goal of the city’s development strategy for several years. And with the rapid rail system and a new master plan, Decatur is going forward with its vision. The area is still offering affordable housing which makes Decatur a great place for investors and people looking for a better, cheaper place to live. With more land still to be sold or made available for sale, Decatur is expected to keep developing into a more prosperous, enjoyable place to live, work, and play. To find out more about what is going on in the City of Decatur, please visit www.decaturga.com.

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